s. as they're no longer comfortable with the u. s. as a jurisdiction for chinese tech and the scrutiny that they will face. apparently the u. s. doesn't seem to want china to list here anyways. so seems like this is one point that both nations can agree upon. it's just a shame that you have all these companies that are just caught in the middle that want absolutely nothing to do with the politics of it all. absolutely not bad. i have one more thing i want to hit on here. it's been a tough year for chinese internet, billionaires. they've lost more than $93000000000.00 from their combined network since april. and i have about a minute left. what's the story there? yeah, i think the story of the 2 words used there. it's important internet billionaires is not all billionaires, it's those who have made their money. where in that internet space, because as christy just said, it comes right as china is cracking down on companies that are too big and spread out into too many different industries. and so if you are a part of dd or if you're ja

k. finalizes, it puts pressure on the u. s. y. because now the u. k isn't much stronger position to negotiate the u. s. u k tre deal because they're having all these other deals completed across the country. and you're right. this is the 1st one that's actually from scratch and eliminating all tariffs. but let's talk when she was secretary of trade, she did complete 70 other ones. so that's really important in terms of the u. s. one other factor, it's very important also in terms of the you case pivot towards asia. this is one of the things in terms of moving away from the e u. the u. k. wants to pivot to asia, that trans pacific, packed in terms of all those nations in the pacific region, australia was a member of that. so this is one step further to completing that agreement as well . so overall, huge. yeah, no, that's fascinating to see how, you know, i know you mentioned the buying and ministration specifically and putting that pressure on them. yeah, i think that they are actually really feeling that pressure on their end. is this something tha

as report say the u. s. is planning to add at least 8 chinese firms to the commerce department investment blacklist. so joining us now to discuss all the latest to host with the i am, professor richard will host of the economic update. christy, let's start with you here. what do you make of the latest economic data from china? i mean, is this just a temporary slow down, or is there more cause for concern here? well, yes, it is quite concerning china. economic slowdown this quarter has mainly been dragged down by worsening poverty markets. lumps caused by ever been prices. and china is timing up their financing. so stricter rules to discard speculation and using homes as investment vehicles, china, home sales plunge. and as we mentioned before, the real estate market has made up nearly a 3rd of china, g d, p growth. so you touched on a bit earlier in the us now the chinese government is now prioritizing debility. so that's usually the period that come after growth growth in all of its classes and sectors. chi

as new reports indicate u. s. federal agencies, including the military, have purchased china, made video surveillance equipment banned from youth in the federal government. now, according to purchasing records, seen by tech crunch and video surveillance news site i p v m. the agency called elective li, spend thousands of dollars on purchasing video surveillance equipment manufactured by laura x. a wholly owned subsidiary of di was technology. now you probably never heard of this company, but it is one of several from china that were banned from selling to the u. s. federal government under 2019 different spending law over the years. fears that the technology could help the chinese government conduct. so for more on this let's bring in, boom, that's fun. and christy i to discuss ban. let me start with you. we break down for us. what this report found, what government agencies were buying this equipment? yes, pretty interesting as, as we've talked about for about 2 years now, right, there was been a huge concern abo

as we all hit in the u. s. and when you asked about where people comply, couple of other issues, of course, as we met christmas party the, the revelation that last year there was a lot of reveling going on on chris white before christmas. 10 downing street, they had a party while the whole of the country was locked down. so people's grandmothers, an elderly parents passing away when they didn't get to see that people weren't able to see their families at christmas. that's negative for the tory party. and then this just come out in the last couple of days, the guardian released photographs of boys, johnson and his wife and a garden party serving cheese and wine over the summer. and i think it was may off to the lock downs. so to answer your question directly, the british public doesn't like you poxy, but they're seeing the queen being sensible and this is necessary. what it looks like going to happen. they're not going to counsel christmas nor boxing day, which is a day after christmas, very important to the u.

busy power in asia, the u. s. and china are followed by japan, india, russia, and australia. australia is important here as it has maintained its ranking, despite trade disputes with china, which the authors of the report say, have improved its resilience in 2021. let's go ahead and dig into what all this means. the professor richard wolf is the host of economic update, and author of the thickness is the system. when capitalism failed to save us from pandemic or itself, professor wolf, always a pleasure. i want to start with the top of the list here. why has the united states been able to increase its influence and even power in asia, even as it has the strained relationship with china over the last several years? well, i think the question is wonderful, but i'm afraid and i hope the not not to hurt anyone's feelings and australian independent think tank funded by an australian billionaire who made his money in shopping malls is probably a case of wishful thinking. most trail you this year made a commitment, want

s. was dramatic and actually affected the u. s. economy drastically, but it was too complex for the consumer to understand. whereas odyssey, obviously monica lewinsky, everybody can understand and that's what broken down. so they do say that obviously johnson's approval ratings are in the gutter in the u. k. so now to your point, i do think this is going to affect people's confidence in his plan be that he's just issued. and so yes, there is speculation that that's going to slow the economy down and actually interesting that you should raise that point because that was in p w. c's projection, i just mentioned jonathan gilling, i'm not, she mentioned that that if oh, micron is taken seriously. this could slow down the economy. i will say there's great pessimism across the u. k right now because of that christmas party, not so much that they had a christmas party, but they knew it wasn't as frightening nor as serious as they purported to be. the same thing here in the u. s. nancy pelosi having i had done in san francisco, gavin newso

the u. s . however, with less than 5 percent of the world's population account for 15 percent, so on a per capita basis, the us is actually one of the biggest polluters. moreover, they pointed out that if the world wants china and india to adopt green energy, then they should help them make the transition right now, they're essentially saying, figure it out. well, how western countries have more financial resources and access to cleaner fossil fuel. and they have failed to keep quiet finance promises, and they've also refused to transfer advanced green technologies. so where does that leads them to try to develop advance green tech from scratch all by themselves? and not to mention that china, india's energy requirements are expected to increase faster than those of any other country in the next 2 decades. so now, given all these point, i think it's unfair to point the finger at china and india as the villain, the climate change. absolutely. great point there christy. now band, when we talk abou

a british judge this morning rejected a u. s. request to extradite assertion to the u. s. on espionage. a judge vanessa braid, sir said assigned would not be safe in us prison is due to the state of his mental health. even though the extradition has been rejected, the u. s. prosecutors have appealed in her ruling aside from humanitarian concerns . the judge upheld their arguments. this allows to legally prosecute journalists and whistleblowers worldwide. if they publish classified information, as long as the us do not drop their charges, the freedom of the press is under threat. with ah, join me every posted on the alex sarlin. sure. i'll be speaking to jeff in the world, follow pert sport business. i'm sure business, i'll see you then i have also said transparency for the powerful privacy for the bell. this bitter cares about privacy or people care about is power. julian assange has become a symbol of the battle. the privacy information is power. that's what's going on in the world. a huge struggle with governments and corporations to want to keep information secret and o

s. u. s. treasury threatens american journalists with hefty fines, if they work for certain publications. one often daniela's ash has his story with us treasury was powers. it was enormous. that of an individual freelance journalist that was microscopic that some of them are so frightened, they're unwilling even to give interviews like this one. and the number of countries registering the new. i'm a chrome strain of cove, it's more than doubles to 57 since last week. the w h o talk to, i'll tell you about the frets it poses. i'm really hopeful that 1st of all, the actors back.

here in the u. s. the federal reserve spent months and months claiming inflation was only transitory, even as it skyrocketed to 30, your heart chairman j. powell insisted. it would only be this way for a little while before. finally, ending the year with the admission that the prices were seeing all around aren't going anywhere anytime soon. so i think that we're transitory has different meanings to different people. to many, it carries a time, a sense of, of short lived that we tended to, to use it to mean that they won't leave a permanent mark in the form of higher inflation. i think it's, it's probably a good time to retire that, that word and try to explain more clearly what we mean. and with increased prices comes increase in debt with congress fighting over how high to raise the u. s. debt ceiling. while the average americans racked that debt of their own all in all, it was truly an unprecedented year. and joining us now to weigh in on his predictions and were inflation that sand is peter ship of

s. investors, the u. s. stock market valuation for companies, the expansion of chinese companies into western markets while still allowing western companies to come into china. and so the reason for that, i think is because they're continuing to create a corporate dependency on china as opposed to just manufacturing dependency. if you create a corporate dependency where major corporations have huge investments in china, they will apply a lot of pressure on the government and the military to not strike china or not bring about any kind of retaliatory tariffs on china. because their bottom line as companies becomes dependent on that chinese market, and that seems to be happening at an increasing pace. yeah, certainly a lot of say here, and it is notable to see how those words differ from the actions boom bus bent on. thank you for your time and insight. thank and staying on the topic of tensions with russia, germany's new government is now responsible for certifying than northridge to pipeline while trying

which of the rhetoric coming from the u. s. and e u leaders sounds pretty aggressive. we see plenty of fake news about russia allegedly planning and aggressive invasion. china shrugs off a u. s. boycotts of its winter olympics pointing, and the american diplomats weren't even inviting.

there's the u. s. is never going to without bitcoin, as it's, as it's legal, tender, it's not going to make bitcoin a competitor to the u. s. dollar. it would be insane to do that. there's no reason to do that. now that doesn't mean that big coin won't have an incredible value that supersedes the us dollar. that i believe is true, but that's not what he's saying. he saying that it will replace the dollar. and i don't think that will happen. as haley was interesting to see those comments made there on twitter. now another comment that dorsey name was he, he claimed that web 3 is not what people think it is and that it is actually centralized and controlled by v c firms. what do we know about that? yes, so this is a, the more interesting part i thought of the conversation. okay, so the big coin part aside. he essentially is attacking web 3 saying web 3 is not centralized. now, for those who don't know what web 3 is, by the way, it's not the met averse right? it's a totally different system. so we've hear

it's outpacing the u. s. it's out pacing other european countries as well when it comes to corona virus recovery . why do you think that is, why didn't the u. k is doing better certainly than other european countries, but even better than the united states, even with cases of on the grounds we mentioned the start here kind of soaring there . well, i think then it goes back to what i mentioned earlier. i think it's actually the efficiency of the n h s. it's probably the strongest national want one of the strongest, if not the strongest national health care system in the world. and it was a very efficient vaccination process when i mentioned only that 92 percent of the adult pop adult population, those over 12 been vaccinated. that is an astounding number, and it's right to the highest right at the top of the list of any i'm industrialized nation. so i think that's the primary, the primary reason why you're seeing the success, why the bounce back will happen. also, don't forget the u. k. took one of the hardest

many funded by the u. s. department of state and defense. their definition of independence may be malleable to say the least. an a s p, i are good at what they do, at least for their defense, industry, sponsors. the numbers say it all since the think tank was founded 20 years ago. weapons manufacturers have collected tens of billions of dollars in government contracts. prior to the coven pandemic. the organization hosted dozens of events. i'm with bringing together key players in defense and politics. providing the opportunity for closed door discussions with government departments and agencies. the s p i is so heavily involved with foreign governments and political organizations. it's even registered with the australian governments. forward inputs transparency register. many were so pleased with the think tanks work there. funding to the organization has grown significantly year on year as have their funds from sponsorship and commercial revenue under the direction of executive director peter jennings. who is himself clear where the blame f

we've got a lot of factors coming online here, even in the u. s, than in other countries. but from the time you created to it's inception of actually delivering product to the market is a 3 year time window. it takes that long. but remember trying to hold the keys because they have all the materials that are required in order to create the chips . so they have the material, they might be able to get it done quicker, but still it's not going to be less than a year. so that's why other countries have been working on this since the started, which has been about a year and a half now. yeah, and i think a lot of the recognize the actual actual stakes here in a semiconductor race, if you will, between china and the u. s. it's pretty incredible. and on the us side of it, texas, it seems to be kind of the ground central or ground 0, excuse me, of where's the me conductors are being developed here about $50000000000.00 exported specifically in that one industry of semi conductors in taxes. do we expect to see taxes continue to be that hub where we're going to see it spread out more

we've talked about it for some time, north stream to the way the u. s. s. treated the way some european countries treated it, but i would say in the last week to 2 weeks, there has been a ratcheting up of rhetoric surrounding your stream too. and something unique is happening here and it appears to me that what we're seeing now is north stream to being framed as an act of war by some countries and treating it as if war will break out over this specific item over this specific issue. which seems truly bizarre again because russia is not forcing the pipeline on any one germany begging for that natural gas as winter approaches. yeah, certainly as bizarre is a great way to describe it, especially when you look at the fact that now we have the u. s. once again, acting like they have some sort of say in the north through the pipeline when they have not been able to stop it up until this point. and now we know that when it comes to sort of those back and forth, we saw that the u. s chose not distinction. russia, in the last defense spending bill, president bide

but when we come back with lawmakers in the us taking a at the u. s. a at the use of shopping bought this holiday season. we'll take a deeper dive into the issue from varying perspective. that's a good break. here are the numbers at the club. oh when i want shown the wrong one, i'll just don't move any new world just to shape out disdain because the attitude and engagement equals the trail. when so many find themselves worlds apart, we choose to look for common ground pinnacle resolution. everything about period is the product of 4000000000 years in a specific environment. so. so in that sense, when we left the survivors at the end of the alone, how long gross su so is in the springs at yellowstone, we will not do very well. we'll do much better than the welcome back. now, as we mentioned earlier this week, a group of democratic lawmakers here in the u. s. have proposed the new stopping grinch boss act. it take same people who use automation to purchase hard to find items beating every day, consumers to the punch. so the general thought on this is that

it's now a self fulfilling event for the u. s. economy, sorry, america, but it's over because the ability to do what paul walker did raise right, is no longer on the table because the duration rescue, the fundamental understanding of the what's gonna be in the bond market is so far out in the elk or that any little bit move up. we'll crash it anyway. so it's either crash or one way or crash it another way, but you're not gonna hold why the crash for is your media reflection of reality? ah, in the world transformed what will make you feel safer? isolation, whole community, are you going the right way or are you being that somewhere? direct? what is true? what is great? in the world corrupted, you need to descend a join us in the depths or remain in the shallows. ah, working room or shed in the back? she popped in. she said, well, i'm getting ready to go shopping for christmas and we, we circle but there was a going to buy another, shooting another safe part of american life shattered by violence. the gunman was armed with an hour 1

so we'll, we'll discuss that and the u. s. economy is coming under pressure at supply chain issues. labor shortage and inflation persist, leading to what the fed called widespread price hike, the consumer demand continues to strip supply. and speaking of the supply chain crisis, lawmakers rolled out legislation to stop so called goring thoughts from snapping up everything from electronics to sneakers. the toys will hear from both sides today and advocate as well as the body himself. we have those packed show today. so let's get started and we leave the program with the ongoing reaction to the news of the latest coban. 1900 very on the crowd is not only getting a lot of media attention. it's also seems to be impacting financial markets. what might surprise you is that of a certainty from the new coven barian is also impacting oil prices and even opec policy thursday. members of opec plus, met by a teleconference to discuss how to deal with last friday, a sudden sharp clap in oil prices. a drop of more than 10 percent within jus

the federal reserve here in the u. s. is preparing for its december meeting next week, and the markets are bracing for the banks decision on whether it will speed up the process of tapering asset purchases as inflation continues to soar, and americans feel the impact all around. so joining us as discuss at all is octavia moran z seo of openness l. l. c. now, octavio, let's start with the latest on china. in the ever grants saga, the company we know has missed multiple payments are ready. so do you see the local government stepping in now having an impact at all on where this is going? well, i'm really not sure what the local government can do in this situation. i mean, ever grounds problems. first will extend outside of one region in china. there act throughout china, but the local government really is not able to do very much of that sort of maybe write some checks and, and do things not. so the real support is going to come from the central government in china and it from the people's bank of china is going to have to d

and so the u. s. and european allies in nato have to try to make sure that russia keeps paying this fee. but the problem is that russia doesn't need to pay the fee, even though the extent they would by the way, if they are pumping this gas under the baltic and all the way to germany. but here's the other thing. you know, we hillary brought up cop 26. what's interesting about the cutaway 6 meeting for, for viewers. you don't know this, this huge climate change meeting. and one of the things that cops when he sits was all about was how do we save the planet, right? because every government around the world is obsessed with this idea that we're on the verge of do when it comes to climate change. and yet, the number one dirtiest form of energy in the world, which is coal manufacturing for energy right, is skyrocketing because natural gas is so expensive right now. so here's where it drives me crazy, right? is that you have these, these political viewpoints that say, well, russia so bad, we have to stop th